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(From South China Morning Post)
Byline: Insurance Kelvin Wong
A robust surge in insurance and other fee-based income offsetting weak net interest margins will be a recurring theme in this year's harvest of interim results among Hong Kong banks, according to analysts.
A CLSA report released this week projected more than 40 per cent year on year growth in annualised life premiums by the insurance industry for the first half of the year.
The forecast was based on figures from the Office of the Insurance Commissioner showing life insurance premiums increased by 48 per cent year on year in the first quarter.
While American International …